Forex in this article
In the morning, the common currency rose to a daily high of $ 1.2067 after trading at $ 1.2036 early this morning. The European Central Bank (ECB) last set the reference rate on Wednesday afternoon at 1.2060 dollars.
Market observers spoke of a slight countermovement and relatively low-momentum trading. There is no important economic data on the agenda for investors to use until the afternoon. Then US economic data could provide new impetus.
According to experts from Landesbank Hessen-Thringen (Helaba), the focus is primarily on another mood test in the manufacturing sector for February. After the mood in industrial companies in the New York region has improved significantly, the sentiment indicator of the regional central bank of Philadelphia is also expected to rise.
During the week, a dollar strength had put pressure on the euro. US economic data were surprisingly positive on several occasions, which points to a robust development in the American economy. The representatives of the US Federal Reserve were also more optimistic about the economic development. The government’s economic stimulus programs and the vaccinations would give the economy a “significant boost,” said the minutes of the Fed’s latest interest rate meeting the night before.
Most recently, rates on the foreign exchange market were also heavily influenced by the development of yields on US government bonds. After the return over the ten-year period had risen over 1.30 percent over the course of the week and thus to its highest level in a year, the situation has calmed down again and the returns have recently shown little change. Rising government bond yields are attracting capital to the US, which is propping up the dollar.
/ jkr / bgf / mis
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